HS2: High-speed project in 'very serious situation', boss says
Published On Dec 30, 2024, 11:15 AM
The HS2 project in the UK is facing significant challenges, according to the new CEO, Mark Wild. An update revealed the project is in a 'very serious situation' with soaring costs, particularly for the Birmingham to London stretch, now estimated at between £45 billion and £54 billion. The project, originally intended to connect Birmingham, Manchester, and Leeds, has seen portion of it scrapped. Despite these setbacks, construction is ongoing, with 38 out of 55 miles of tunnels completed and a substantial workforce involved.
Stock Forecasts
IBD
Positive
HS2 represents a considerable investment in future infrastructure, which could potentially boost the economy despite its current challenges. The ongoing construction activities and job creation are positive indicators that may benefit related service and construction sectors.
CRH
Negative
While HS2 is moving forward, the ongoing cost overruns and project revisions indicate potential vulnerabilities. Companies directly involved in HS2 construction may face decreased investor confidence, impacting their stock performance.
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